Friday, November 25, 2022

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SBI likely to raise Rs 10,000 crore through infrastructure bonds

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State Bank of India (SBI), the country’s largest lender, is planning to raise Rs 10,000 crore worth of infrastructure bonds during the current financial year. “We inform that a meeting of the Executive Committee of...

Amazon to shut down its edtech platform in India

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Amazon said on Thursday it will shut down its edtech offering in India from August 2023 and refund the full fees to those enrolled in the current academic batch. The e-commerce giant launched Amazon Academy in January 2021 to cater...

Gujarat becomes first state to get Jio True 5G across all districts

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Reliance Jio on Friday said Gujarat has become the first state to get 'True 5G' in each of the 33 district headquarters. With this, Jio 'True 5G' is now present in 10 cities/regions in India (including Delhi-NCR). As a...

Adani Enterprises to raise Rs 20,000 crore through follow-on public offer

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Adani Enterprises will raise Rs 20,000 crore through a follow-on public offer (FPO). The company made the announcement in a regulatory filing on Friday. "The board of directors of the company (the 'Board'), at its meeting...

Paytm has lost over Rs 1 trillion in market cap since its issue

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The shares of One97 Communications, which operates the payments platform Paytm, hit an all-time intra-day low of Rs 476.65 apiece before closing at Rs 477.1 on Tuesday, down over 11 per cent from their...

Airtel’s arm infusing Rs 600 cr to build east India’s largest data center

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Bharti Airtel subsidiary Nxtra Data Ltd Tuesday said the company will invest Rs 600 crore in the development of its largest data center in east India. The center when developed will serve the underserved markets of the...

Bharti Telecom plans to tap bond market to raise Rs 7,000 crore

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India's Bharti Telecom is planning to tap the bond market after a year's gap, with the company looking to raise as much as 70 billion Indian rupees ($858.32 million) through shorter-tenor bonds, according to a term sheet seen...

Tata Motors to replace Dr Reddy’s in Sensex

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Tata Motors will enter Sensex from December 19 replacing Dr Reddy’s Laboratories, according to a press release shared by BSE, which operates Asia Index in partnership with S&P Dow Jones Indices LLC. Similarly, Adani Total...

Air India will increase its market share to around 30% on all routes: CEO

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Tata group-owned airline, Air India will introduce a premium economy class in some of its long-haul international flights next month, said Chief Executive Officer (CEO) Campbell Wilson on Saturday. Addressing an event organized by the...

India’s forex exchange reserves rise at fastest pace since August 2021

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India's foreign exchange reserves rose to $544.72 billion in the week through November 11, marking their biggest weekly jump in more than a year, the Reserve Bank of India's (RBI) weekly statistical supplement showed...

Flipkart burns over USD 3.7 billion cash in a year till September 2022

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E-commerce major Flipkart has burnt cash of USD 3.7 billion (about Rs 30,000 crore) in about a year ending September 2022, according to regulatory filings. Flipkart had USD 1 billion in cash in July 2021,...

Elon Musk sells $3.95 billion worth of Tesla stock

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Twitter’s new owner and Tesla CEO Elon Musk sold nearly $4 billion worth of Tesla shares, according to regulatory filings. Musk, who bought Twitter for $44 billion, sold 19.5 million shares of the electric car...

India becomes Skoda’s third- largest market

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Skoda Auto India sold 38,300 cars during January-September 2022, up 186.9% over the same period last year, which makes India its third-largest market globally, after Germany (100,700 cars) and Czech Republic (51,200 cars).India also overtook...

HUL, GSK Asia and GSK Consumer will terminate distribution agreement

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Fast-Moving Consumer Goods (FMCG) major Hindustan Unilever, GlaxoSmithKline Asia, and GlaxoSmithKline Consumer have mutually agreed to terminate the distribution agreement of Over-The-Counter (OTC) products. The OTC products included Crocin, Eno, Iodex, Otrivin, Sensodyne.  HUL informed in the stock...

Toyota Kirloskar forays into CNG segment; introduces 2 new models

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Toyota Kirloskar Motor on Wednesday announced its foray into the CNG segment with the launch of Glanza and Urban Cruiser Hyryder trims with the environment-friendly powertrain. The two CNG trims of Glanza are priced at Rs 8.43 lakh and Rs...
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